Reporting interest in RRSP

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smalhot05
Posts: 10
Joined: Wed Mar 14, 2018 1:08 am

Reporting interest in RRSP

Post by smalhot05 »

Hi,

I am using Turbotax to file returns.

(1) In my TFSA account, I have 3yr GIC (started in 2014 when I wasn't US resident) which matured in 2017 (when I was a US resident). In my US income tax return for 2017, do I report the total interest received in 2017 (from 3years) or split it across 3years and report for 1 year i.e. 2017.

(2) If I don't make contribution nor get distribution from TFSA account, do I still need to report my TFSA account in 3520/3520-A? I only have interest income that is within TFSA account. Do I have to declare the interest in TFSA account as my income?

(3) How should I report interest received in RRSP account? (I have reported the account in Form 8938 Part VI, lines 1 thru 6 and line 8 except line 7)

Thank you very much for your help,
Sam
smalhot05
Posts: 10
Joined: Wed Mar 14, 2018 1:08 am

Interest in RRSP

Post by smalhot05 »

Hi Nelsona,
I would really appreciate your guidance here. I am sorry if these questions have come up before but I cannot seem to find them.
Thank you,
Sam
nelsona
Posts: 18363
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

See my signature.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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